Frequency Electronics, Inc. $FEIM Shares Acquired by Navellier & Associates Inc.

Key Points

• Navellier & Associates increased its Frequency Electronics position by 161.2% in the second quarter, owning 30,095 shares worth approximately $2.0 million. Institutional investors and hedge funds collectively own 58.6% of FEIM.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $43.67, despite mixed individual rating changes.
• FEIM shares opened at $60.46 after declining 5.4%, while the company’s latest quarterly results missed expectations: adjusted EPS was a $0.50 loss versus a $0.26 estimate, and revenue totaled $15.4 million versus $18.57 million expected.

Navellier & Associates Inc. boosted its position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) by 161.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,095 shares of the communications equipment provider's stock after buying an additional 18,575 shares during the quarter. Navellier & Associates Inc. owned 0.30% of Frequency Electronics worth $1,997,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FEIM. BlackRock Inc. acquired a new stake in Frequency Electronics in the 2nd quarter valued at about $34,273,000. Invesco Ltd. acquired a new position in shares of Frequency Electronics in the 4th quarter worth approximately $9,446,000. Next Century Growth Investors LLC raised its holdings in shares of Frequency Electronics by 200.4% in the 4th quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider's stock worth $11,816,000 after purchasing an additional 146,397 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Frequency Electronics by 403.6% in the 3rd quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider's stock worth $4,645,000 after purchasing an additional 109,776 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Frequency Electronics by 179.4% in the third quarter. Two Sigma Investments LP now owns 139,687 shares of the communications equipment provider's stock valued at $4,737,000 after buying an additional 89,698 shares in the last quarter. 58.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on FEIM. Wall Street Zen upgraded Frequency Electronics from a "strong sell" rating to a "sell" rating in a report on Saturday, July 4th. Freedom Capital raised Frequency Electronics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. Finally, Weiss Ratings lowered Frequency Electronics from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $43.67.

Frequency Electronics Stock Down 5.4%

Shares of NASDAQ:FEIM opened at $60.46 on Friday. The company's fifty day moving average is $66.32 and its two-hundred day moving average is $59.72. The company has a market cap of $596.74 million, a P/E ratio of -671.78 and a beta of 0.73. Frequency Electronics, Inc. has a 12-month low of $26.05 and a 12-month high of $80.60.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last issued its earnings results on Wednesday, July 15th. The communications equipment provider reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.76). The business had revenue of $15.40 million during the quarter, compared to analyst estimates of $18.57 million. Frequency Electronics had a negative return on equity of 1.56% and a negative net margin of 1.43%.

About Frequency Electronics

Frequency Electronics, Inc NASDAQ: FEIM is a U.S.-based designer and manufacturer of precision frequency control products and timing solutions. The company's portfolio includes oven-controlled crystal oscillators (OCXOs), atomic frequency standards such as rubidium oscillators, GPS-disciplined oscillators (GPSDOs), microwave synthesizers, and integrated timing subsystems. These products are used to provide stable and accurate frequency and time references for applications that demand high performance and reliability.

FEI serves a broad range of markets, including telecommunications, aerospace and defense, satellite and space systems, test and measurement equipment, and critical infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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